the $20K on that one 0% card was there from a line of credit we had used to fix up part of our home. It's not irresponsible spending or credit use. We moved it to the 0% card to save on the 6% from the home equity line of credit. We have no other debt other than the original mortgage (only $130K now) and that $20K on the 0% card that was used only for fixing up the awesome home we bought for a great price. :-)
No worries...not accruing debt or spending unwisely. That's why I'm researching here...trying to figure out if this is a good move, or not, for our needs (planning another $80K in remodeling and landscaping to finish off the property and make it a real gem).
Just making sure if we fold that $20K into the cash out refi loan that it doesn't hinder our credit card approval...because earning miles/points is as important to me as this home. We've traveled all over the USA and have gone to India and Thailand so far on our miles in just a few years. We're headed to India again the end of this year and have saved enough miles for a trip for 4 to trek across Spain the following year. :-)
Just hoping someone here has had experience with this and knows how it will be showing up on credit reports and whether it negatively affects how credit card companies see you.
Thanks!